Red River CU (TX/AR) Ups Rate On 18-Month CD

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Deal Summary: 18-month Certificate, 1.76% APY, $500 minimum deposit.

Availability: Residents of 13 eastern Texas counties and 11 western Arkansas counties.

Red River Credit Union (Red River CU) has raised the rate on its 18-month Certificate (1.76% APY). The minimum opening deposit is $500, with no stated balance cap.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.41%$500-Red River Credit Union18 Month CD (Monthly)
Accounts mentioned in this post. Rates as of September 19, 2017.

The 18-month Certificate has been part of the product line for more than six years. In that time, there has been 17 rate changes, ranging from a low of 0.75% APY to the current high of 1.76% APY.

The majority of Red River CU’s Certificates have the option of having dividends compounded monthly or quarterly, but the 18-month Certificate only offers monthly compounding.

In a Live Chat, CSR stated the Early Withdrawal Penalty for an "18-month CD is 180 days of simple interest."

Availability

Headquartered in Texarkana, Texas, Red River Credit Union's field of membership (FOM) is residency based, with individuals who live, work, worship, attend school, or volunteer in the following counties eligible for membership:

Texas: Bowie, Camp, Cass, Delta, Franklin, Harrison, Hopkins, Hunt, Lamar, Marion, Morris, Red River, and Titus.

Arkansas: Clark, Garland, Hempstead, Hot Spring, Howard, Lafayette, Little River, Miller, Nevada, Pike, and Sevier.

In the past, “immediate family members” (with specific relationships detailed) of current Red River CU members qualified for membership. The wording on the Open an Account page now reads, “relatives of current member-owners,” and the online application reads, “I'm a relative of a current Member-Owner. Their name is ________.”

Joining Red River CU and/or opening an 18-month Certificate can be done online, or at any of 18 Texas branches located in Atlanta, Clarksville, New Boston (2), Sulphur Springs, Texarkana (12), and Wake Village, or five Arkansas branches located in Ashdown, Hope, Nashville, and Texarkana (2).

Credit Union Overview

Red River Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 2.88% (excellent) based on March 31, 2017 data. In the past year, Red River CU has increased its total non-brokered deposits by $49.96 million, an excellent annual growth rate of 7.58%. Please refer to our financial overview of Red River Credit Union (NCUA Charter # 5029) for more details.

Headquartered in Texarkana, Texas, Red River Credit Union is one of a handful of credit unions whose field of membership extends across state lines. (The City of Texarkana itself lies in both Texas and Arkansas.) Founded in 1943 by a small group of the Red River Army Depot employees, the Credit Union currently has more than 82,700 members and assets in excess of $801 million. Red River CU was named “Best Financial Institution for 2016” in the Four States Living Magazine “Best of Texarkana Awards.”

How the Certificate Compares

When compared to the 166 similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available to within the FOM, Red River Credit Union's 18-month Certificate APY currently ranks first.

The above rates are accurate as of 7/20/2017.

To look for the best CD rates, both nationwide and state specific, please refer to our CD rates table, or our Rates Map page.

Related Pages: Shreveport CD rates, Dallas CD rates, 1-year CD rates

Comments
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Availability: Residents of 13 eastern Texas counties and 11 western Arkansas counties

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Red River CU (TX) Raises Rate On 18-month CD To Competitive Level
Availability: Residents of 7 Texas counties and 11 Arkansas counties

Yesterday, Red River Credit Union (Red River CU) raised the rate on its 18-month CD (1.40% APY). The minimum opening deposit is $500 and there is no balance maximum cap.

When asked about the Early Withdrawal Penalty (EWP), CSR stated that any EWP is decided on a case-by-case basis, with the amount being withdrawn and the remaining time until CD maturity used as determinants.

Availability

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